Obama team hits Romney over financial disclosures
April 6th, 2012
11:37 AM ET
3 years ago

Obama team hits Romney over financial disclosures

(CNN) - President Barack Obama's campaign wasted no time Thursday jumping on a report about Mitt Romney limiting certain disclosures of his financial investments. And Mitt Romney's campaign was equally quick to fire back.

Using the president's Twitter account, as well as accounts from top campaign staff, Obama's re-election team pushed a story by the Washington Post, even starting the Twitter hashtag: #WhatsRomneyHiding.

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"So what's Romney hiding?" the president's Twitter account (@BarackObama) read Thursday night, urging followers to demand that Romney release more years of his tax returns.

Romney's team, however, blasted Obama's campaign for launching the attack.

"President Obama will do anything to try and distract Americans from his failed record of chronic unemployment, lower incomes and higher gas prices," Romney spokeswoman Andrea Saul said in a statement to CNN.

The Washington Post reported Thursday Romney used an "obscure exemption in federal ethics law" that allows him to avoid revealing the full extent of his holdings in financial disclosures.

According to the Post, Romney took advantage of the loophole for 48 accounts at Bain Capital, the candidate's former private equity firm. By giving narrow descriptions of his holdings, Romney is permitted from fully disclosing the company's underlying assets, the Post reported.

"Romney has made it difficult to know precisely where his money is invested, whether it is offshore or in controversial companies, or whether those holdings could affect his policies or present any conflicts of interest," the article stated.

The newspaper noted, however, that Romney is not violating any rules and that his advisers have certified his financial documents with the Office of Government Ethics.

But that didn't stop Obama's campaign from using it as another way to paint the former Massachusetts governor as an out-of-touch businessman seeking to hide his true wealth.

"Mitt Romney has put his personal financial assets in a black box and hid the key, attempting to play by a different set of rules than any candidate in recent history," Jim Messina, Obama's campaign manager, said in a statement.

The campaign has previously attacked Romney for not releasing more tax returns than the ones he released in January, which only included returns from the years 2010 and 2011.

Romney spokeswoman, Saul, said the candidate's disclosures "completely and accurately describes Governor Romney's assets as required by the law applicable to candidates for president. If (the Office of Government Ethics) had at any point considered any part of the filing insufficient, it would have made this clear."

Also see:

Romney promises to win Pennsylvania in November

Santorum's private meetings focused on his way forward

Santorum, Perry privately met in Texas

Santorum's daughter, 'Bella,' hospitalized again


Filed under: 2012 • Mitt Romney • President Obama
soundoff (359 Responses)
  1. steve

    "President Obama will do anything to try and distract Americans from his failed record of chronic unemployment, lower incomes and higher gas prices," Romney spokeswoman Andrea Saul said in a statement to CNN.

    Romney seems incapable of getting his facts straight. Unemployment became an issue when the economy tanked under a Republican's control. Gas prices were higher under a Republican's control.

    Under Obama we are seeing an economy improved, unemployment go down and the usual market influences driving gas prices, pretty much as they did when prices were higher under Bush.

    For the sake of America we must hope whoever is elected can at least tell the true. Romney seems a bit fuzzy on facts.

    April 6, 2012 02:35 pm at 2:35 pm |
  2. Dave

    This dirtbag Romney put the cart before the horse regarding sending 100 % of the Kestone supply out of America. He thought he was just gonna waltz right thru aftter stealing this election, not so fast Can a brother get all up in that ALECgate. Romney got caught, Karl Rove & the Kochs should be investegated along with Mr Personality

    April 6, 2012 02:39 pm at 2:39 pm |
  3. coolbreeze

    I looked into his eyes in I saw the devil

    April 6, 2012 02:39 pm at 2:39 pm |
  4. Former Republican, now an Independent

    Romney will use his money and resources to hide many skeletons in his closet. Nobody makes their fortune at others expense without these ugly stories to hide. Romney is a corporate vulture, and that fact is indisputable!

    April 6, 2012 02:40 pm at 2:40 pm |
  5. nolimits3333

    What was in that Swiss Bank account, Mr. Romney?

    April 6, 2012 02:40 pm at 2:40 pm |
  6. Ya Right!

    @NVa Native...Give some examples!!!!!!!!!!!!!! YOU CANT! Obama is weak, look at the economy, unemployement rate, gas prices, national debt, I could go on and on!!! I don't necessarily like Romney but he will be better then what we have now! Atleast Romney knows how to MAKE money which will help us get out of dept!!!!! THAT is what we NEED or we are going to end up like Greece!

    I really wish Americans had some business sense to realize that higher taxs, and speaking of he hasn't even has the guts to raise those, for the rich and businesses only hurt America. Corporations will take ALL jobs here and move them overseas if taxes get too high! THAT is the primary reason for jobs moving over seas! I wish America would pick up a business and economics book and learn something! If they did Obama would be GONE in a second!

    April 6, 2012 02:44 pm at 2:44 pm |
  7. Peace

    It is not by accident independents are running away from Romney. I always salute this group. They are more clever than the rest of us who belong to one party or the other. They know Romney is not trustworthy. They have gone and they will never come back to him. He is a crook.

    April 6, 2012 02:44 pm at 2:44 pm |
  8. Ya Right!

    PS. I am not republican and in fact would love to vote for H. Clinton if she was running! I just have the smarts to know what Obama is doing to our country! It seems that everyone on this web site is brain washed by the good speaking skills but lack of actual skills Obama!

    April 6, 2012 02:47 pm at 2:47 pm |
  9. Michelle

    During this sour economy that continues to worry everyone, I rather have a president who knows how to make money and A LOT of it because he will be able to put that experience and knowledge to good use in building our economy, creating jobs, and helping all of us to make more moeny! When jobs and a strong economy is something we desperately need, why in the world would we want a president who hasn't known how to do that in his personal life?

    April 6, 2012 02:49 pm at 2:49 pm |
  10. kim

    If he is hiding his assests "legally", then that is a perfect example of why the tax codes need a severe revamping. And, if Romney is as honest as he claims to be, why does he feel he needs to hide his financial statements. My guess is that it would be extemely embarassing and profoundly detrimental to his campaign if they were exposed. Just another Wall Streeter looking to scam Americans.

    April 6, 2012 02:50 pm at 2:50 pm |
  11. Dave

    Yo Bobinirvine, I agree 100 %. W started 2 wars at the same time. He didnt have the backbine to pay for them. I say we tax every man woman & child 1% payroll to go directly to the deficits. That would get back our aaa rating & actually help our National Security.

    April 6, 2012 02:52 pm at 2:52 pm |
  12. Keith

    Gas prices were higher under Rep control? and you say Romney needs to check his facts? and then you follow up by saying now gas prices are driven by usual market influences? so is it republicans fault or is it the markets? dems and the double standards...never ends lmao

    April 6, 2012 02:53 pm at 2:53 pm |
  13. Dave

    Sorry my bad, Every man woman & child WHO IS WORKING

    April 6, 2012 02:53 pm at 2:53 pm |
  14. Dave

    Mr Personality is losing by 20 points in the woman vote. Rassmussen says its tied , What they be smokin?

    April 6, 2012 02:57 pm at 2:57 pm |
  15. Wire Palladin, S. F.

    Give credit where credit is due, elitist Mittens is a tax evader, corporate raider, liar, terrible campaigner, spent over $60 million to get 40% of the republican votes in the primary, money launderer, corporate shill, flip flopper.

    April 6, 2012 02:57 pm at 2:57 pm |
  16. davey

    step in time you dancin' little demmies.

    April 6, 2012 02:58 pm at 2:58 pm |
  17. Brent

    steve

    "President Obama will do anything to try and distract Americans from his failed record of chronic unemployment, lower incomes and higher gas prices," Romney spokeswoman Andrea Saul said in a statement to CNN.

    Romney seems incapable of getting his facts straight. Unemployment became an issue when the economy tanked under a Republican's control. Gas prices were higher under a Republican's control.

    Under Obama we are seeing an economy improved, unemployment go down and the usual market influences driving gas prices, pretty much as they did when prices were higher under Bush.

    For the sake of America we must hope whoever is elected can at least tell the true. Romney seems a bit fuzzy on facts.

    --
    What in the heck are you talking about? The economy was better at the end of Bush's term than it is now... unemployment bottomed out during Obama's Admin, not Bush's. And Obama ran against McCain claiming that the US couldn't afford to see $2.50/gallon gas... guess what... it is up over $4.00/gallon!!!!

    Get your facts straight before posting and removing all doubt that you are an idiot.

    April 6, 2012 02:59 pm at 2:59 pm |
  18. Wire Palladin, S. F.

    Mittens made his money raiding corporations. I don't think we need to have him sell off our national assets to the highest bidder.

    April 6, 2012 02:59 pm at 2:59 pm |
  19. billy davis

    Romney cannot be trusted. Funny how the Tea Baggers demand to know everything about Obama even the size of his willie. Yet, they ignore Romney's real deception.

    April 6, 2012 02:59 pm at 2:59 pm |
  20. davey

    oh and speaking of skeleton's in the closet, who paid for your time at harvard soetoro?

    April 6, 2012 03:00 pm at 3:00 pm |
  21. Another Day in the Idiot MInes (the real one and not the whiny extreme rightwing liar)

    I think some of ya'll defending the blind trust are missing a few points here. And let me also say that most of these points apply to all blind trusts regardless of party.

    First, a "blind" trust is not really blind if there is a "nudge, nudge, wink, wink" understanding that the portfolio won't be changed by the trustee. Has anyone even tracked previous blind trusts to see how much the portfolio generally changes, historically speaking? Second, a blind trust does not apply to already earned benefits, like deferred payments. If Rmoney is getting deferred payments from Bain, a blind trust is irrelevant. All he needs to do is keep Bain happy, or at least solvent, and his deferred payments/pension/whatever are safe. In a nutshell, this means don't expect a guy who made his money on Wall St. to do anything Wall St. doesn't like. The interests of Wall St. and Rmoney are so entwined, they are essentially aligned against the US government. There is no way Rmoney can ever claim to represent the people AGAINST Wall St., as is sometime necessary from time to time. He has a permanent conflict of interest that makes him unfit to serve as President.

    Finally, recall also how Cheney had deferred benefits (or maybe it was options) he was receiving from Hallliburton while he was VP. While the actual benefits may have been going to his blind trust, he still was the ultimate beneficiary. You can bet he took care of Halliburton to take care of himself. It was shameful (and he was shameless) about the truckloads of money that were dumped on what, before the start of the war, was a fairly mediocre company. It would be utter foolishness for anyone to believe a GOBP neocon cultmember like Rmoney to be any different from Darth Cheney.

    April 6, 2012 03:00 pm at 3:00 pm |
  22. Yes, Right!

    @Ya Right! Which world are u living in? Can you stop hanging from the ceiling like a bat and look at the world right side up? Economy is far better now than when Bush left no?
    Unemployment is getting better than before no?
    Gas prices were well above $4 under Bush. It has gone higher but surely you can tell that 3.75 a gallon is less than 4 dollars no?
    National Debt – Went up significantly under Republicans (Bush and Congress). They launched two wars, not a dime paid for, gave huge tax cuts which cut govt. revenue while increasing spending (Medicare Part D anyone)

    BTW, don't you not realize that tax rates are the lowest they have ever been? What taxes did Obama raise – for people or corporations?

    Take your head out of the sand and look at the truth.

    April 6, 2012 03:01 pm at 3:01 pm |
  23. Wise1Speak

    MITT ROMNEY = 'BAIN CAPITAL VERSION OF A RUTHLESS USED-CAR SALESMAN'

    Pay attention folks, the Mittens statement, "I'm going to win Pennsylvania in November" has two prongs.

    First, Romney diss'es Santorum by indirectly stating that Santorum will be inconsequential in November; so why waste votes on him in Pennsylvania’s Primaries.

    Secondly, the Mittens side steps and ignores his support for extreme Right-Wing agenda for which he supported during the Republican Primaries such as:
    [1.] attacking women's health coverage to include contraception,
    [2.] his promise to eliminate Planned Parenthood which provides women's preventive healthcare,
    [3.] elimination of unions and workplace gains for the middle-class,
    [4.] greater tax-cuts for the rich at the expense of the middle-class and the national debt,
    [5.] extend war in Afghanistan and start new war with Iraq,
    [6.] support Paul Ryan's GOP budget plan to eliminate Medicare and Social Security,
    [7.] support GOP plan to privatize U.S. Postal Service and eliminating rural post offices.

    April 6, 2012 03:01 pm at 3:01 pm |
  24. Ben

    How can we elect Romney when he does not see America as a place to invest his money. This is not different from his vulture capitalistic endervor of destroying American jobs and shipping them overseas. Romney wants to lead America, but does not want to pay his fair share of Taxes. Romney is out of touch with the common man- in his words, "corperations are people too". You tell me how many corperation you know that have to worry about putting food on the table for their children, or their child having pre-existing condition. Do you know of a pregnant corperation that their health insurance company have termed their pregnancy as pre-existing condition and had to jack up their health insurance? To most Americans, corperations are not people. Romney cannot relate to the avearge American. He is too busy trying to hide his money overseas so as to avoid paying taxes on his money just like the rest of us pay taxes on ours. Romney is a Tax dodger.

    April 6, 2012 03:01 pm at 3:01 pm |
  25. ray

    this is not new people, this man lies everyday and gets away with it from network like cnn and fox news. look back at mitt and see everyday he lies, rommney lies for a living and gets away with it.

    April 6, 2012 03:02 pm at 3:02 pm |
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